PSEi pierces 7,000 mark intraday

MANILA, Philippines - The Philippine Stock Exchange index (PSEi) breached the 7,000 mark on Monday, opening the week with an intraday high of 7,016.71.

“The market’s rise to the 7,000 is a validation of the solid macro-economic fundamentals of the country and the confidence of investors in the Philippine economy. We are hopeful that this momentum will carry on until the end of the year,” said PSE President and Chief Executive Officer Hans B. Sicat.

Th PSEi closed Monday at 6,999.1, adding 36.82 points or 0.53 percent. The main index has rallied for the fourth consecutive time when it opened the week in the green.

"These were the highest levels since May 31, 2013 when the PSEi registered intra-day and closing levels of 7,028.50 and 7,021.95 points, respectively," the local bourse said in a statement.